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RESOLUTION NO. 2847
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ARCADIA, CALIFORNIA, AUTHORIZING
AND DIRECTING INVESTMENT OF AVAILABLE
FUNDS AND RESCINDING RESOLUTION NO. 2763.
THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES
DETERMINE AND RESOLVE AS FOLLOWS:
SECTION 1. That there are from time to time on hand in
the city treasury, not required for the immediate necessities of
the City of Arcadia, funds in excess of $500,000.00. That the short
term investment of such funds would increase the interest revenue
of the City of Arcadia.
SECTION 2. That pursuant to Title 5, Division 2, Part 1,
Chapter 4, Article 1, of the California Government Code, the Con-
troller, Treasurer and City Manager be and they are hereby author-
ized to invest up to $500,000.00 of such surplus in any of the
fiol~ow1ng, to wit: United States Treasury bills, United States
Treasury notes and United States Treasury anticipation notes.
SECTION 3. That Resolution No. 2763, entitled IIA RESOLU-
TION OF THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, AUTHORIZ-
ING AND DIRECTING INVESTMENT OF AVAILABLE FUNDS AND RESCINDING
RESOLUTION NO. 2718" adopted April 10, 1956, be and the same is
hereby rescinded.
SECTION 4. The City Clerk shall certify to the adoption
of this Resolution.
I HEREBY CERTIFY that the foregoing Resolution was adopted
at a regular meeting of the City Council of the City of Arcadia held
on the 2nd day of January, 1957, by the affirmative vote of at least
three CounCilmen, to wit:
ATTEST:
~r?Ct# 7/Uu~
AYES: Councilmen Dennis, Jacobi, Phillips, Reibold and
Camphouse
NOES: None
ABSENT: None ~~f:~~t~~\~
SIGNED AND APPROVED this 2nd d~f , 1957.
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INDI:GD
2847